First thing is just to have a plan. Know exactly what you want to do with your brand identity. Make sure you have an amazing team that has an amazing plethora of knowledge and an advisory board. Try to develop a board of directors, financial strategist, CPAs attorneys, people that are going to help you through the channels before you actually get in. A lot has to do with innovation.
As I said before, especially your packaging, a lot of us want to go in and put stickers on packaging. [However,] we really have to design our packaging, and really have a brand identity and [know] what we stand for. So each brand, in the case of ice cream, we all kind of use the same ingredients. But what really sets us apart is just the stories, the brand stories and how we’re actually bringing our product to market. And then the last thing is to just try to make sure you’re capitalized because a lot of minority businesses are extremely undercapitalized. It’s very hard for us to go in and get loans. It’s hard for us to get investors and really get people to believe that we can actually accomplish what we set out to do.
The full 26-minute interview can be found below.
